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Updated July 11, 2001 6:28 a.m. ET

San Miguel Is in Talks to Acquire Cosmos

Confirming several weeks of market talk, San Miguel Corp. said Wednesday it is in talks to acquire the soft drinks business of local food and beverage group RFM Corp. If the deal goes through, this will be the second major bottling acquisition of San Miguel this year following the purchase of a majority stake in Coca-Cola Co.'s Philippine softdrinks operation. In a disclosure to the stock exchange, San Miguel said it is in discussions with RFM to acquire its Cosmos Bottling Corp. unit. "No agreement has been reached on the price structure or other details," San...